February 2026 showed a steady but still affordability-sensitive picture for Hawaiʻi. In the latest February housing data, the median single-family home price reached $1,205,000, while the median condo price came in at $500,000. Mortgage rates eased to 5.98% by late February, giving buyers a little more breathing room even though financing costs remained elevated compared with the ultra-low-rate years.
For buyers, sellers, and anyone watching the local market, this monthly snapshot helps connect what is happening in real estate with the broader economy. Population and migration data are not included in this month’s report because Hawaiʻi’s latest population estimates are published on an annual schedule rather than as a monthly release.
Table of Contents
Housing Market Overview
Affordability and Economy
Tourism Trends
What It Means for Hawaiʻi Real Estate
Sources
Housing Market Overview
February’s housing market pointed to stability more than sharp movement. The latest market report showed the median single-family home price at $1,205,000, up 1.7% from February 2025, while the median condo price rose to $500,000, up 1.2% year over year. On Oʻahu, single-family sales increased to 177, up 6.0%, while condo sales were essentially flat at 291, down 0.7% from a year earlier.
At the statewide level, Redfin showed a similar picture of a market that is still moving, but not racing. Hawaiʻi home prices were up 2.4% year over year, total homes sold rose to 780, and the number of homes for sale increased to 7,635, up 2.4% from the prior year. Median days on market came in at 104, which suggests buyers are still active but taking more time and care with decisions than in a faster market.
Overall, the market appears active but selective. Inventory is giving buyers a bit more room than they had during tighter periods, but pricing is still being supported by continued demand, especially in desirable areas and price bands where inventory remains constrained. That is an inference based on the price, sales, and inventory data together.
Affordability and Economy
Affordability continues to be one of the biggest themes in Hawaiʻi real estate. Freddie Mac’s weekly survey showed the 30-year fixed mortgage rate moving from 6.11% on February 5 to 5.98% on February 26, marking a modest improvement by the end of the month. Lower than January, yes — but still high enough that monthly payment pressure remains real for many buyers.
At the same time, Hawaiʻi’s labor market remained firm. DBEDT reported the state’s seasonally adjusted unemployment rate at 2.2% for January, unchanged from December. The latest State of Hawaiʻi Data Book figure also shows median household income at $95,322 in 2023, which remains one of the most recent annual benchmarks available for household earnings.
Together, those numbers reinforce a familiar Hawaiʻi story: the job market is holding up, but affordability is still the bigger issue because home prices and financing costs continue to stretch monthly budgets. Even with rates dipping slightly, many buyers are still adjusting expectations around price point, monthly payment, or property type. That is an inference supported by the rate, income, and housing-price data.
Tourism Trends
Tourism remained an important part of Hawaiʻi’s economic picture. Statewide, DBEDT reported $1.91 billion in visitor spending in February 2026, up 10.3% from February 2025, with 787,024 total visitors, up 3.6% year over year. That tells us tourism continued to provide meaningful support to local business activity and the broader economy heading into spring.
At the island level, the latest Hawaiʻi Island snapshot available showed 154,982 visitors in January 2026, down from 159,312 a year earlier, while visitor spending rose to $348.4 million from $308.4 million. Hotel performance on Hawaiʻi Island also showed 76.0% occupancy, down from 77.4% a year earlier, alongside ADR of $497 and RevPAR of $377, both up year over year. In other words, arrivals were softer, but spending and hotel revenue metrics were stronger.
Tourism trends matter because they help support jobs, business revenue, and consumer confidence across the islands. While tourism does not determine the housing market by itself, it continues to be one of the major forces supporting Hawaiʻi’s broader economic stability. That is an inference based on the spending, arrivals, and hotel performance data.
What It Means for Hawaiʻi Real Estate
The February 2026 picture looks steady, but still very payment-sensitive. Home prices remained firm, condo pricing held relatively stable, inventory was somewhat higher statewide, and mortgage rates moved just under 6% by month-end. Tourism spending also stayed supportive, which helps reinforce the broader economic backdrop.
For buyers, this may mean opportunity still exists, especially in segments where inventory has improved or where condos offer a lower entry point than single-family homes. For sellers, it reinforces the importance of realistic pricing and strong presentation, because today’s buyers are more deliberate and payment-conscious than they were in lower-rate environments. Hawaiʻi is not showing signs of a major breakdown in demand, but it is clearly a market where strategy matters more than ever. That final point is an inference drawn from the sales pace, inventory, mortgage-rate, and affordability data together.
Sources
- Honolulu Board of REALTORS® February 2026 market report
- Redfin Hawaiʻi housing market data
- Freddie Mac Primary Mortgage Market Survey
- DBEDT Hawaiʻi unemployment data
- State of Hawaiʻi Data Book
- DBEDT visitor statistics
- DBEDT / HTA hotel performance data